Baker Hughes (NASDAQ:BKR) Shares Sold by Yaupon Capital Management LP

Yaupon Capital Management LP trimmed its position in shares of Baker Hughes (NASDAQ:BKR - Free Report) by 64.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 465,309 shares of the company's stock after selling 843,024 shares during the quarter. Yaupon Capital Management LP's holdings in Baker Hughes were worth $19,087,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new position in Baker Hughes during the 4th quarter worth $829,092,000. Raymond James Financial Inc. purchased a new position in shares of Baker Hughes in the 4th quarter valued at about $291,289,000. Neuberger Berman Group LLC grew its position in shares of Baker Hughes by 2,527.6% during the fourth quarter. Neuberger Berman Group LLC now owns 3,319,418 shares of the company's stock worth $136,158,000 after buying an additional 3,193,089 shares in the last quarter. Congress Asset Management Co. purchased a new stake in shares of Baker Hughes during the fourth quarter worth approximately $107,155,000. Finally, FMR LLC raised its holdings in Baker Hughes by 12.5% in the fourth quarter. FMR LLC now owns 15,702,057 shares of the company's stock valued at $644,098,000 after acquiring an additional 1,744,225 shares in the last quarter. 92.06% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have commented on BKR. Barclays lowered their price target on shares of Baker Hughes from $54.00 to $48.00 and set an "overweight" rating for the company in a report on Thursday. Susquehanna lowered their target price on shares of Baker Hughes from $48.00 to $46.00 and set a "positive" rating for the company in a research note on Thursday. Citigroup cut their price target on Baker Hughes from $54.00 to $53.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. TD Securities decreased their price target on Baker Hughes from $50.00 to $49.00 and set a "buy" rating for the company in a report on Thursday. Finally, Jefferies Financial Group increased their price objective on Baker Hughes from $48.00 to $50.00 and gave the company a "buy" rating in a report on Friday, January 3rd. Two investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company's stock. Based on data from MarketBeat, Baker Hughes currently has an average rating of "Moderate Buy" and a consensus price target of $49.11.

Baker Hughes Stock Performance

BKR traded up $0.49 during trading on Thursday, reaching $36.38. The company's stock had a trading volume of 9,677,306 shares, compared to its average volume of 6,912,290. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.94 and a current ratio of 1.32. The company's fifty day moving average price is $41.60 and its 200-day moving average price is $42.05. Baker Hughes has a 52-week low of $30.93 and a 52-week high of $49.40. The company has a market capitalization of $36.02 billion, a price-to-earnings ratio of 12.21, a price-to-earnings-growth ratio of 2.00 and a beta of 1.08.

Baker Hughes (NASDAQ:BKR - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The company reported $0.51 earnings per share for the quarter, topping analysts' consensus estimates of $0.48 by $0.03. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. The business had revenue of $6.43 billion for the quarter, compared to analysts' expectations of $6.54 billion. On average, equities analysts forecast that Baker Hughes will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Shareholders of record on Tuesday, May 6th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date is Tuesday, May 6th. Baker Hughes's payout ratio is currently 31.40%.

Insider Buying and Selling at Baker Hughes

In other news, EVP Maria C. Borras sold 8,000 shares of the company's stock in a transaction on Monday, January 27th. The stock was sold at an average price of $44.77, for a total value of $358,160.00. Following the sale, the executive vice president now directly owns 173,302 shares in the company, valued at $7,758,730.54. This represents a 4.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.27% of the company's stock.

About Baker Hughes

Baker Hughes Company provides a portfolio of technologies and services to energy and industrial value chain worldwide. The company operates through Oilfield Services & Equipment (OFSE) and Industrial & Energy Technology (IET) segments. The OFSE segment designs and manufactures products and provides related services, including exploration, appraisal, development, production, rejuvenation, and decommissioning for onshore and offshore oilfield operations.